Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE BENEFIT PLANS

v3.20.2
EMPLOYEE BENEFIT PLANS
9 Months Ended
Sep. 30, 2020
EMPLOYEE BENEFIT PLANS  
EMPLOYEE BENEFIT PLANS

12. EMPLOYEE BENEFIT PLANS

Components of the net periodic benefit costs from continuing operations for the three and nine months ended September 30, 2020 and 2019 were as follows (dollars in millions):

Huntsman Corporation

Other Postretirement

Defined Benefit Plans

Benefit Plans

Three months

Three months

ended

ended

September 30, 

September 30, 

    

2020

    

2019

    

2020

    

2019

Service cost

$

13

$

14

$

$

Interest cost

15

19

1

1

Expected return on assets

(44)

(40)

Amortization of prior service benefit

(2)

(1)

(2)

(1)

Amortization of actuarial loss

21

17

1

Net periodic benefit cost

$

3

$

9

$

$

Other Postretirement

Defined Benefit Plans

Benefit Plans

Nine months

Nine months

ended

ended

September 30, 

September 30, 

    

2020

    

2019

    

2020

    

2019

Service cost

$

39

$

39

$

1

$

1

Interest cost

46

59

2

2

Expected return on assets

(129)

(118)

Amortization of prior service benefit

(5)

(4)

(4)

(4)

Amortization of actuarial loss

60

51

1

1

Net periodic benefit cost

$

11

$

27

$

$

Huntsman International

Other Postretirement

Defined Benefit Plans

Benefit Plans

Three months

Three months

ended

ended

September 30, 

September 30, 

    

2020

    

2019

    

2020

    

2019

Service cost

$

13

$

14

$

$

Interest cost

15

19

1

1

Expected return on assets

(44)

(40)

Amortization of prior service benefit

(2)

(1)

(2)

(1)

Amortization of actuarial loss

21

17

1

Net periodic benefit cost

$

3

$

9

$

$

Other Postretirement

Defined Benefit Plans

Benefit Plans

Nine months

Nine months

ended

ended

September 30, 

September 30, 

    

2020

    

2019

    

2020

    

2019

Service cost

$

39

$

39

$

1

$

1

Interest cost

46

59

2

2

Expected return on assets

(129)

(118)

Amortization of prior service benefit

(5)

(4)

(4)

(4)

Amortization of actuarial loss

62

53

1

1

Net periodic benefit cost

$

13

$

29

$

$

During the nine months ended September 30, 2020 and 2019, we made contributions to our pension and other postretirement benefit plans of $73 million and $67 million, respectively. During the remainder of 2020, we expect to contribute an additional amount of approximately $16 million to these plans.